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Nifty FMCG Index
Long

Ascending Channel pattern in FMCG Indices

129
CNXFMCG A major correction has happened in FMCG sector after which a strong reversal can happen in the form of bullish engulfing or hammer candlestick in weekly timeframe
If it takes the support of 55,000 and forms a bullish candle, it will reverse from the current support.
If it breakdowns below the 55,000 mark, it can correct up to 50,500 & 45,000 respectively.
Coming weeks will be a deciding factor for the indices.
Saket_Ojha
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Ascending ChannelbullishpatternChart PatternsFMCGTechnical IndicatorsTrend Analysis

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Ascending ChannelbullishpatternChart PatternsFMCGTechnical IndicatorsTrend Analysis
Saket_Ojha
Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.